report of no distribution QUESTIONS...HELP!

[KnowNow]

Greetings-

This is the report of no distribution from PACER.

Chapter 7 Trustee's Report of No Distribution: I, (trustee name), having been appointed trustee of the estate of the above-named debtor(s), report that I have neither received any property nor paid any money on account of this estate; that I have made a diligent inquiry into the financial affairs of the debtor(s) and the location of the property belonging to the estate; and that there is no property available for distribution from the estate over and above that exempted by law. Pursuant to Fed R Bank P 5009, I hereby certify that the estate of the above-named debtor(s) has been fully administered. I request that I be discharged from any further duties as trustee. Key information about this case as reported in schedules filed by the debtor(s) or otherwise found in the case record: This case was pending for 1 months. Assets Abandoned: $8964.00, Assets Exempt: $6204.00, Claims Scheduled: $62542.00, Claims Asserted: Not Applicable, Claims scheduled to be discharged without payment: $62542.00.

The $8964 asset abandoned is for a Toyota car loan....that I'm trying to reaffirm.
QUESTION#1-Should this be listed as abandoned?

The $62542 is the total of 3 credit cards AND THE $8964 Toyota ADDED

QUESTION #2- Is this correct? Since we want to reaffirm the Toyota...why is it being added to the total amount discharged?

QUESTION #3 - We also turned a Nissan lease in early...and it was listed on Schedule G....shouldn't some $ amount be included in the $62542 figure????
We owed them over $2,000!!

THANKS FOR ANY AND ALL YOUR HELP....MY LAWYER IS NOT SO GOOD.
(he has had the Toyota reaffirmation agreement for 1 month and I called Toyota today...and they said they have not received it yet)

[AngelinaCat]

Hi Knownow: Welcome to the forum.

First, my sympathies go with you on a not so good lawyer. You should have seen ours!! Ugh!

However, on the abandonment of the automobile--that means that the trustee is not interested in it, either because it is too old, or more likely, you owe too much on it. Either way, it is not attractive enough for the trustee to consider as an 'Asset'.

We had a 2004 VW Jetta that we owed about $7-8K on it when we filed--and it as 'abandonded' as being 'fully encumbered', i.e. the mortgage. Likewise we have a 1993 Pontiac Grand-Am that we paid $800.00 at auction, but was only truly worth about 300-500. The trustee abandoned that too as being 'too old'.

On the reaffirmation, with this report, and your attorney's lack of progress--if I were you, with this determination from the trustee, I would keep my mouth shut. Keep making your payments on time and stay current. Then should something happen that you fall behind and have to return the vehicle, you will NOT BE RESPONSIBLE for the difference between what you owe, and what the vehicle sells for at auction. This is called a 'ride through'.

On the vehicle that has been turned in, anything you still owe on it will be discharged when you receive your discharge.

So you are well on your way to a successful end. In this case, *Abandonment* is good.

[teacher]

abandonment by the trustee and abandonment by you are NOT the same thing, as stated above

[justplaintired]

Our no distribution was the same, it includes the house which we had said we wished to reaffirm. So don't worry to much, my understanding is you may still received affirmation papers, if not keep your payments current and you should be fine. I to freaked out when I saw the house was included, but then I thought, well if we reaffirm we reaffirm if we don't, that will be fine too. I am still receiving info only statements on both mortgages, they are cashing my checks so all is well.

[KnowNow]

Thanks...

You people are great!

I appreciate your responses.

I just hope my lawyer is not missing anything.

It's really going somewhere...when I can trust a bkforum more than my lawyer

[kenshirley]

Greetings-

This is the report of no distribution from PACER.

Chapter 7 Trustee's Report of No Distribution: I, (trustee name), having been appointed trustee of the estate of the above-named debtor(s), report that I have neither received any property nor paid any money on account of this estate; that I have made a diligent inquiry into the financial affairs of the debtor(s) and the location of the property belonging to the estate; and that there is no property available for distribution from the estate over and above that exempted by law. Pursuant to Fed R Bank P 5009, I hereby certify that the estate of the above-named debtor(s) has been fully administered. I request that I be discharged from any further duties as trustee. Key information about this case as reported in schedules filed by the debtor(s) or otherwise found in the case record: This case was pending for 1 months. Assets Abandoned: $8964.00, Assets Exempt: $6204.00, Claims Scheduled: $62542.00, Claims Asserted: Not Applicable, Claims scheduled to be discharged without payment: $62542.00.

The $8964 asset abandoned is for a Toyota car loan....that I'm trying to reaffirm.
QUESTION#1-Should this be listed as abandoned?

The $62542 is the total of 3 credit cards AND THE $8964 Toyota ADDED

QUESTION #2- Is this correct? Since we want to reaffirm the Toyota...why is it being added to the total amount discharged?

QUESTION #3 - We also turned a Nissan lease in early...and it was listed on Schedule G....shouldn't some $ amount be included in the $62542 figure????
We owed them over $2,000!!

THANKS FOR ANY AND ALL YOUR HELP....MY LAWYER IS NOT SO GOOD.
(he has had the Toyota reaffirmation agreement for 1 month and I called Toyota today...and they said they have not received it yet)

I am thinking abandonment indicates that you are surrendering the car but I am not sure.
If you are to reaffirm with Toyota you must call them. They have their own paperwork they will send to your attorney to fill out and file for you.
Toyota will accept no other forms from any other sources. I just went though this with them.

[music12]

the report of no distribution means basically one thing: the trustee is not going to take anything from you to distribute to creditors.

all other figures in this report are taken AUTOMATICALLY from your petition. the trustee gives them no specific thought. so for example, in the total to be discharged it usually includes amounts from student loans, even though those are not dischargeable.

i read this in a document giving instructions to the trustees... will post it here if i can find it again

[music12]

found it:

http://www.usdoj.gov/ust/eo/rules_regulations/docs/Trustee_Final_Reports_Final_Rule.pdf

see especially the second page and also answer to question 10 on the third page, which says "the NDR form will be populated by an automated process and trustees may also file multiple NDR forms in the batch file method." so that means, i think, that the trustee can click on all cases for which he wants to file the No Distribution Report (NDR) and then the system will fill in the blanks.